Value retailer Matalan has announced an investment of £35m to lower the prices of more than 700 products, as it continues to support families with the high cost-of-living.

The investment is funding price reductions across all core categories from January, online and in store.

Prices are being cut by an average of 15% across core and new lines of everyday family essentials, with some product prices falling by as much as 25%. This includes clothing categories as well as home storage and bedding. Popular bedding sets have been reduced by £3.00 across single, double and king sizes.

The business has unlocked price cuts for customers through a more collaborative buying and sourcing strategy introduced by the company’s new senior leadership team and by passing on reduced input costs as inflation falls.

Jo Whitfield, Chief Executive Officer of Matalan, said: “The start of the year is always a tough time financially and this year, given how difficult 2023 was for so many families, it’ll be harder than ever. So, for 2024 we want to start the year off differently.

“We’ve unlocked efficiencies at a time when inflation and input costs are starting to fall, enabling us to pass these savings on directly to our customers – bringing down the prices of new and existing lines of everyday essentials and favourites across all our key categories. It’s all part of our mission to build a stronger, more modern Matalan that brings families a better choice of quality clothes and homewares at great prices.”